NYDIG Leads $5M Funding Round for Mining Firm Luxor

Additional investors in the Series A round include: Bitnomial, Hodl Capital and Routemaster.

article-image

Luxor CEO and founder Nick Hansen

share

key takeaways

  • NYDIG will collaborate with Luxor on a number of mining-related ventures and hashrate-based products
  • Luxor has plans in store to supercharge returns for bitcoin miners

Luxor Technologies, a bitcoin mining firm, raised $5 million in a Series A funding round, the company announced in a press release this week.

“Luxor has been running for quite a while. [However], this is going to give us the catalyst we need to start sprinting,” CEO and founder Nick Hansen said in an interview with Blockworks.

NYDIG, who led the funding round, will collaborate with Luxor on a number of mining-related ventures and hashrate-based products, according to the announcement.

Hansen said that NYDIG, the digital asset subsidiary of Stone Ridge Asset Management, and Luxor have big plans in store to supercharge returns for bitcoin miners as well. 

“At Luxor, we view hashrate as an asset class as itself, meaning that it has some value that changes overtime and we would like to be able to give miners the ability to hedge that asset,” Hansen said.

Some noteworthy investors in the Series A round include: Bitnomial, Hodl Capital and Routemaster. 

“We’re pleased to lead this Series A funding round and are thrilled to partner with Luxor to develop first-of-their-kind products and competencies for North American miners,” said NYDIG CEO and co-founder Robert Gutmann in the release.

Luxor has initially raised $725,000 in a pre-seed round in February.

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Pipe Network is a decentralized content delivery network (dCDN) that replaces the sparse, capital intensive data center footprint of traditional CDNs with a permissionless mesh of independent node operators. By orchestrating under-utilized resources that already exist at the edge, rather than purchasing or leasing thousands of servers, Pipe slashes capital intensity while letting supply expand autonomously in the places where bandwidth is scarcest and most expensive.

article-image

The network is pursuing a yield-bearing ETH bridge, fee burns and massive token allocation

article-image

Core’s David Roos says that there won’t be ‘thousands’ of stablecoins launched at once

article-image

Some businesses run on low margins by choice. Others do it because they have no choice.

article-image

BAM, DoubleZero and Alpenglow will drive the new upgrades

article-image

White House officials have until Friday to solidify tariff agreements with most countries